SITI stock talk daily thread, Wednesday, June 5

Hey, I posted this opening page in the wrong place, so am trying to make amends by cut and pasting it here. Sorry about that.

With all due respect to RC's opinion that SIRI has a mind of its own and does not follow market trends, I think the game has changed and based on performance the past few days, we are seeing a changed behavior of SIRI. Having said that, I note that the Futures are down considerably now in the pre-market; I therefore, see SIRI and all my other holdings to continue to slide. Be patient, and GLT

The S&P500 index is behaving as projected, now at 1620 with analysts thinking it will bottom at 1600. In the meantime, it appears SIRI (3.33) and most others in my watch list are seriously taking a beating. I have two exceptions however, and those are the two sub-2 dollar little guys called LEDS and NORX (up 1% and 12% today, respectively). NORX is that OTC small oil drilling company with recent inroads in at least 9 drilling fields in the Bakken, specifically on the western edge in eastern Montana. Do your own DD, but to me this one is one to keep a close eye on for potential good gains............. I bought NORX last week at .89; this morning it has been as high as $1.15, now settled in around 1.08.

What a brutal down day across the board; DOW was down 217 (dropping below 15,000), and S&P500 Index fell below the 50% FIB retracement to 1608. In my portfolio of a dozen issues I had only one (very) shining star, that being NORX which started with a flurry this morning and for the day (from close yesterday at .97) to close today (1.56) representing a paper gain of 61% today and 71% since I entered my positions a week ago. That little OTC penny stock more than made up for all the losses today in my eleven other holdings. These kinds of days don't happen often, but I continue to have this feeling in my gut that NORX is extremely undervalued. Again, do your own DD, and see if this one is worth a little risk taking at this stage.

I am the only one rooting for a big marketwide pullback? If so, I'll shut up.

I'm with you CLR. Thank goodness I have enough diversity built in to my portfolio that I (so far) am able to weather the frequent downturns. I continue to highlight the projected "bottom" of the S&P500, and hold a lot of hope that soon we will see and bounce off of that figure and begin our next course to the higher plateau (1700 or higher).

PS. I don't recall hearing anything about the family addition. Any news you wish to report?